October 25, 2018 / 8:53 AM / 21 days ago

Saudi's Falih says market intervention may be needed to cut oil stockpiles

DUBAI (Reuters) - Saudi Energy Minister Khalid Al-Falih believes there could be a need for intervention to reduce oil stockpiles after increases in recent months, he said in comments to state TV.

“We (have) entered the stage of worrying about this increase,” Al-Falih told state broadcaster al-Ekhbariya.

He added that intervention might be required to return to the stability reached after “tireless efforts during the past year and a half”.

Reporting by Ali Abdelaty; Writing by Tuqa Khalid; Editing by David Goodman

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